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Curtiss-Wright Acquires Parylene Coating Services

Published on 2008-09-08. Author : SpecialChem

ROSELAND, N.J. -- Curtiss-Wright Corporation announced that it has acquired certain assets and liabilities of Parylene Coating Services, Inc. ("PCS") of Katy, TX for approximately $7.6 million in cash. PCS applies parylene coatings primarily for the medical device industry. The business will become part of Curtiss-Wright's Metal Treatment segment.

"The acquisition of PCS fits our strategy of expanding Curtiss-Wright's coating services business into diversified markets. PCS's expertise complements our existing global network of coating facilities and provides expanded access to the growing medical market," said Curtiss-Wright Chairman and CEO Martin R. Benante.

PCS utilizes a vapor deposition process to apply parylene coatings to medical devices, including coronary artery stents, rubber/silicone seals and wire forming mandrels used in the manufacture of catheters. The conformal coating provides lubricity; resistance to solvents, radiation and bacteria; and is also biocompatible. In addition to medical applications, parylene coatings are uniquely suited for use in niche electronic, oil and gas and general industrial applications. PCS's facility is ISO 9001 registered and had sales of approximately $3 million in the 12 months ending August 2008.

About Curtiss-Wright:

Curtiss-Wright Corporation is a diversified company headquartered in Roseland, N.J. The company designs, manufactures and overhauls products for motion control and flow control applications, and provides a variety of specialized metal treatment services. The firm employs approximately 7,600 people worldwide.

About Curtiss-Wright Metal Treatment:

Headquartered in Paramus, N.J., Curtiss-Wright's Metal Treatment segment provides precision metal finishing services, including shot peening, shot peen forming, laser peening, heat treating and specialty coatings. Its customer base includes the commercial aerospace, automotive, power generation and processing industries. The Company operates 64 metal treatment facilities in North America and Europe.

This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 that are based on management's beliefs and assumptions. Such statements, including statements relating to Curtiss-Wright Corporation's expectations for future performance and opportunities, are not considered historical facts and are considered forward-looking statements under the federal securities laws. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Such risks and uncertainties include, but are not limited to: a reduction in anticipated orders; an economic downturn; changes in competitive marketplace and/or customer requirements; a change in US and Foreign government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, marine, electronics and industrial companies. Please refer to the Company's current SEC filings under the Securities and Exchange Act of 1934, as amended, for further information.

Source: Curtiss-Wright Corporation


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